The founder of Tron Justin Sun intensifies his accusations against First Digital Trust (FDT), the source of FDUSD Stablecoin, who claims to have mixed $ 500 million of its customers’ money.
In a post on April 5 on X, Sun FDT compare the FTX exchange now, claiming that the FDT case was “ten times worse”. FTX applied bankruptcy in November 2022 after a bank revealed a shortage of $ 8 billion in its assets.
Justin Sun compares the first digital confidence in FTX
Sun argued that although FTX had offended the user’s money, the stock exchange maintained at least on an internal system of activity, as loans pledged.
He explained that FTX used assets such as FTT, SRM and MAPS symbols as a guarantee in transactions that had, on the surface, some of the structure. On the contrary, Sun First Digital Trust claims to money without the user’s approval or any internal undertaking mechanism.
“FDT was simply off 456 million dollars of Custom Tusd boxes without permission or the customer’s knowledge, and was reserved as loans for Dubai Third Doubted without any guarantees,” Sun Claim.
TON founder also confirmed that the FTX founder, who is now chosen by Sam Bangtan Farid (SBF) has already been offended the use of funds. However, Sun noticed a lot of capital in investments in good reputable companies such as Robinhood and Ai Company Anthropic.
On the other hand, Sun claimed that FDT has turned the user’s assets into private entities to achieve personal gains without any meaningful investment.
Sun also took over the CEO of FDT Vincent Chok Zuo, and criticized his indifference to the apparent indifference after the alleged misconduct.
According to him, Chuck did not show any intention to take responsibility. This contrasts with SBF, which has taken steps to restore the user’s assets and cooperate with the authorities.
“Vincent Choc has behaved deceptive and hit, and nothing happened when he was shown,” Sun stated.
Looking at this development, the founder of TON urged Hong Kong authorities to take quick action. He called for a similar response to the response of the American organizers during the FTX collapse.
Sun confirmed that Hong Kong’s reputation as a global financial center is at risk and called for immediate enforcement to prevent further damage.
“Hong Kong must act like its counterparts in the United States – decisively, decisively and effectively. We cannot allow the fraudsters to continue the pyramid plan against the public.”
To support investigations, Sun has Firing A $ 50 million reward program aims to expose alleged misconduct. He also met with the legislator at Hong Kong Johnny Woo to discuss potential organizational procedures.
Disintegration
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